[ Property & Casualty Products ]

Collateral Protection Insurance*

Your Loan Agreement requires that you maintain physical damage insurance coverage to protect the Credit Union's interest in your collateral. The most affordable choice is to contact Langley Financial Insurance Agency or purchase through the agency of your choosing. Your signed Loan Agreement allows Langley Federal Credit Union to purchase this insurance and add the premium for it to your loan balance if you do not obtain or maintain Collateral Protection Insurance or CPI. In some cases, the credit union can also increase your payments to cover the cost of the insurance.

Usually, when CPI is purchased on your behalf, the cost is considerably higher than you might pay on your own. Therefore we encourage you to get coverage through Langley Financial Insurance Agency or another insurance provider.

It is important to inform your agent or agency to name Langley Federal Credit Union as Loss Payee/Lienholder. The mailing address for insurance verification purposes is:
Please remember, CPI only protects LFCU's interest in your collateral. It does not protect your interest or equity in the collateral. It will not provide bodily injury or property damage liability coverage, nor meet any state financial responsibility or no-fault laws. CPI will not provide medical insurance, uninsured motorist or underinsured motorist coverage.

To file a claim or verify that you have appropriate insurance coverage in place on your vehicle as per your loan agreement, click here.